Dr. Nadeem ul Haq, Vice Chancellor, Pakistan Institute of Development Economics (PIDE) along with Durr-e-Nayab, Pro-Vice Chancellor and his team of researchers visited Islamabad Chamber of Commerce & Industry (ICCI) and discussed areas of collaboration with ICCI to take joint research initiatives and develop various policy papers on economy. He briefed the participants about research works of PIDE and shared some research-based publications with ICCI. He agreed that PIDE would collaborate with ICCI in various projects including development of budget proposals for the upcoming budget and policy paper on tax reforms, charter of economy and state of the commerce report. He stressed that the business community should work for transforming SMEs into multinational companies as Pakistan needs MNCs to improve its economy. He emphasized that open discussions should be held on economy between stakeholders that would help in making better business and economic policies.

Speaking at the occasion, Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce & Industry highlighted the barriers being faced by the entrepreneurs in starting and expanding businesses. He said that businesses have to face around 122 regulatory agencies and added that the burdensome trade and commerce regulations are distorting the markets and raising the cost of doing business. He stressed that the government should minimize the regulatory burden and speed up the completion of the Pakistan Single Window project to provide all regulatory services at one place that would help the businesses to flourish and play a more effective role in the economic development of the country. He lauded the willingness of PIDE to work with ICCI on various projects of mutual interest and hoped that joint efforts of ICCI and PIDE would produce beneficial outcomes for the businesses and the economy.

Engr. Muhammad Azhar ul Islam Zafar, Vice President ICCI said that the government should give due respect to the business community and make key policies in consultation with the private sector.

Durr-e-Nayab, Pro-Vice Chancellor PIDE, Ch. Muhammad Ali, Rizwan Chheena, Akhtar Hussain, Ashfaq Chatha and others also spoke at the occasion and offered useful proposals to improve the regulatory framework for the private sector in Pakistan.